Planet Labs to redeem outstanding public warrants for $0.01 each

Planet Labs PBC (NYSE: PL) announced it will redeem all outstanding public warrants to purchase Class A common stock for $0.01 per warrant on April 27, 2026.

The satellite imagery company can exercise this redemption because its Class A common stock traded at least $18.00 per share on twenty trading days within a thirty-day period, meeting the conditions outlined in the warrant agreement dated March 4, 2021.

Warrant holders can exercise their warrants until 5:00 p.m. New York time on the redemption date to purchase shares at $11.50 per share. Unexercised warrants will become void after the deadline, with holders receiving only the $0.01 redemption price.

Continental Stock Transfer & Trust Company serves as the warrant agent for the redemption process. The public warrants were originally issued as part of Planet Labs' initial public offering units.

The company provides daily satellite imagery and geospatial solutions through what it describes as the largest Earth observation fleet of imaging satellites. Planet Labs was founded in 2010 and operates as a public benefit corporation.

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